Many small businesses, not just retail jewelers, are caught in a tight monthly financial cycle. Those businesses teeter on financial ruin because the only thing needed to send them over the edge is a bad week of sales, unexpected loss of the star salesperson, tax penalties, medical bills, or the wrong choices of inventory. Each of these could be an unrecoverable setback.
As a coach and a mentor, I'm often asked a variety of unexpected questions. Over the last week, I was working with another client to help them plan for their retirement. Their retirement is many years away, but right now, they needed some help planning their future profits and if they should sell the business or if their children will take it over.
Their children are in their early 20s and haven't committed to working in the store. Both children finished their non-jewelry college educa... VIEW FULL GOLD NUGGET
Last week, I was doing a little research into the US census data on this website. The U.S. business census data is captured every 5 years, but there's a delay before the information is published. The 2012 was only recently published.
Shrinking Number of Retail Jewelry Stores
The data shows that there were only 16,847 corporations that classified themselves as "jewelry stores" in 2012, and there were 2... VIEW FULL GOLD NUGGET
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